Computer processor maker Intel (NASDAQ:INTC) will be announcing earnings results tomorrow after market hours. Here’s what you need to know.
Intel beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $13.28 billion, down 6.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income and EPS estimates.
Is Intel a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Intel’s revenue to decline 10.4% year on year to $13.8 billion, a reversal from the 9.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.12 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Intel has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Intel’s peers in the semiconductors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Qorvo’s revenues decreased 14.7% year on year, beating analysts’ expectations by 1.4%, and Texas Instruments reported a revenue decline of 1.7%, topping estimates by 3.3%. Texas Instruments traded down 7.5% following the results.
Read our full analysis of Qorvo’s results here and Texas Instruments’s results here.
Investors in the semiconductors segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Intel’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $23.83 (compared to the current share price of $19.96).
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